The Hindu Business Line : BNP Paribas keeps options open on further investment

Kolkata, July 21 BNP Paribas Leasing Group, the €15-billion international equipment leasing arm of BNP Paribas, now in strategic partnership with Srei Infrastructure Finance, will consider further investments in India only on a case-by-case basis.

Unveiling plans to develop the fast growing equipment leasing business in India jointly with Srei Infrastructure, through a 50:50 venture, Mr Bertrand Gousset, Director and Member, Executive Committee of BNP Paribas Leasing in-charge of corporate development, told newspersons here on Friday that the day-to-day operations would be left entirely to the local partner.

Asked if the company had plans to bring in further capital into the new venture at this stage, over and above the $200 million committed (Rs 775 crore), Mr Gousset said it has an open mind on this, though nothing has been decided at the moment.

Mr Hemant Kanoria, Vice-Chairman and Managing Director of Srei Infrastructure Finance, said that while Srei Infrastructure will continue to handle the project financing part of the business, the portfolios of equipment leasing and insurance brokering are being taken out and vested in the new joint venture with BNP Paribas Leasing to achieve faster business growth.